Rare Earth Minerals (LON:REM) and Bacanora Mineral, its partner, have added almost 60% more acreage to their Fleur-El Sauz lithium deposit in northern Mexico.

The partnership now has mineral rights over approximately 5,325 hectares in the region compared to 3,305 hectares previously. Rare Earth added it also intends raise its stake in the joint venture from 10% to 30%. It has a right of refusal to increase this further to 49.9%.

The new acreage covers strategic ground to the east and north of the existing Fleur-El Sauz deposit and from which lithium-bearing clay units identified by the stage 1 drilling programme may extend down-dip and eastward, the company said.

David Lenigas, Rare Earth’s chairman, said the additional concessions will also restrict access by potential competitors to the general project area.

"The newly acquired concessions provide a solid opportunity for further increasing the lithium resources on the joint venture lands, which have been calculated to contain a gross inferred resource of 1,782,000 tonnes of lithium carbonate at a 1,000 ppm Li cut-off."